Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Personal Auto Rate Hikes Not Keeping Up with Losses: Fitch
Mar 30 2017 // U.S. personal auto underwriters increased premium rates “significantly” in 2016. But here’s the thing: it wasn’t enough. Loss trends are still outpacing rate changes. Also, the U.S. P/C industry...
The Hartford Names Tooker as Head of Middle Market Segment
Mar 30 2017 // The Hartford has named A. Morris “Mo” Tooker, currently chief underwriting officer, as head of its Middle Market segment. Tooker remains chief underwriting officer for the company’s property/casualty...
Swiss Re Names Mitchell as Head of Property & Specialty Reinsurance
Mar 22 2017 // Swiss Re announced that Mike Mitchell, currently head Property Underwriting and Property & Casualty Facultative, Asia, will succeed Edouard Schmid as Swiss Re’s head Property & Specialty Reinsurance,...
Half of Global Insurance Premium Growth Tied to China: Allianz Research
Mar 21 2017 // Allianz Research projections show that total global premium income rose to a new record high of 3,650 billion euros ($3.9224 billion U.S. dollars) last year (excluding health insurance). In a year-on-year comparison, the...
Reinsurers Seek Higher Returns Through Customized Business
Mar 20 2017 // Reinsurer Swiss Re, usually involved in mega-deals on natural disaster coverage, is branching out on its own to do individually tailored schemes to boost returns, such as one in China to protect farmers against floods or...
Steamin’ Hot Markets: Cyber, Sharing Economy, Active Shooter, Construction, Mergers and More
Mar 20 2017 // Cyber Sharing Economy, Active Shooter, Construction, Mergers and More Insurance Journal examined industries experiencing changes, challenges, expansions and growth in the past year. For 2017, experts predict the U.S....
Florida Property Insurers Largely Avoid Downgrades, For Now: Demotech
Mar 17 2017 // Ratings company Demotech is holding off on issuing large-scale ratings downgrades of Florida property insurers for now, after a number of insurers heeded its warning of last month about the effects of assignment of...
Take This Lemonade and Startups: Insurers Garner Record High Satisfaction Grades
Mar 14 2017 // Those uppity insurtech startups might want to take note: About one of every 15 U.S. homeowners insurance policyholders files a claim each year and these claimants are now giving insurers their highest ever satisfaction...
Maximum Adds Christensen as Property/Casualty Producer in Omaha
Mar 8 2017 // Maximum, an independent, Chicago-based excess and surplus lines wholesaler, has added Bria Christensen as a producer in its Omaha, Neb., office. Christensen most recently held a wholesale brokerage position at Ascension...
People
Mar 6 2017 // Henderson Brothers Inc., a Pittsburgh, Pa.-based independent broker, has hired Jeremy Taggart as a financial analyst in the employee benefits department. In his new role, Taggart will use his three years of industry...
People
Mar 6 2017 // Bruce Carnegie-Brown will become the chairman of Lloyd’s following a meeting of the Council of Lloyd’s where his appointment as successor to John Nelson was approved unanimously. His appointment also was...
State Farm Lost $7 Billion on Auto in 2016
Mar 1 2017 // State Farm joined the ranks of property/casualty insurers reporting challenges in their auto insurance line of business. State Farm said it lost $7 billion on its auto insurance underwriting in 2016. The State Farm...
Berkshire Hathaway’s Insurance Keeps Growing and Hiring Despite Auto, Reinsurance Blips
Feb 27 2017 // Even though Berkshire Hathaway’s GEICO chalked up an underwriting loss in the fourth-quarter 2016, with full-year profit coming in basically even with 2015, the company is poised to take advantage of competitor...
Ratings Agencies Uphold Their Ratings on AIG
Feb 17 2017 // Despite American International Group’s poor 2016 fourth quarter earnings performance, Fitch Ratings and Standard & Poor’s both have affirmed the insurer’s ratings, with a few qualifiers slipped...
Florida-Based Main Street America Appoints Bastian as National Account Executive
Feb 17 2017 // The Main Street America Group, a super-regional property/casualty insurance company, has announced the appointment of Anne Bastian to national account executive, a newly established role within the company’s field...
Ed Announces Series of Appointments and One Departure
Feb 15 2017 // Ed, the London-based reinsurance, wholesale and specialty broker, has announced several appointments over the past few weeks in the areas of international property and casualty, marine and energy, finance, and...
Sapiens to Acquire Insurance Tech Firm StoneRiver for $102 Million
Feb 15 2017 // Israel-based insurance software firm Sapiens International Corp. has agreed to acquire privately-held insurance technology firm StoneRiver Inc. for approximately $102 million in cash. Headquartered in Denver,...
Agency Organic Growth Slowed in 2016: Reagan
Feb 15 2017 // Organic revenue growth among insurance agencies and brokerage firms fell in 2016 to 4.2 percent– its lowest annual rate since 2011. The year ended on a positive note, however, as fourth-quarter organic growth...
Munich Re Q4 Earnings Drop to 500M Euros ($530M) on Nat Cat Claims
Feb 8 2017 // Munich Re, the world’s biggest reinsurer, reported a bigger-than-expected drop in fourth-quarter earnings as claims from natural disasters rose while prices continue to fall. Net income declined to about 500 million...
Why the Insurance Industry Supports and Hires Veterans
Feb 8 2017 // Many property/casualty insurance carriers have focused their charitable efforts on veterans, and they’ve done so for a number of good reasons. One important reason for adopting veterans causes was explained by Glenn...
